This Selected Issues paper and Statistical Annex presents an overview of economic developments in Mali in 1994-95. Despite the impact of the devaluation on government spending, the overall fiscal deficit was limited to 13.7 percent of GDP in 1994, with government revenue declining by the equivalent of 1/2 percentage point of GDP and total expenditure rising by about 31/2 percentage points. In 1995, the fiscal situation improved significantly as the overall government deficit, on a commitment basis and excluding grants, was reduced by more than 2 percentage points of GDP.